One of the most difficult tasks that I have is a technical analyst is to predict the yearly movement of a Forex pair. However, there are some general macro events or issues that can come into play, giving me some things to think about going into the New Year. | | | |
Out of all of the yearly forecasts that I am doing for Daily Forex, this is probably the most difficult to get my head around. | | | |
The US dollar is potentially forming an inverted head and shoulders as I write this article. Get the 2019 forecast here. | | | |
The New Zealand dollar has the misfortune of being tied to Asia. What's in store for this market in 2019? Find out here. | | | |
The US dollar has been rising against the Japanese yen for the entirety of 2018, in a clearly defined upward channel. | | | |
Italian authorities have agreed to tweak their proposed budget to reduce the deficit, thereby avoiding a clash with the European Commission which would have seen sanctions taken out against the Italian state. | | | |
The Euro went back and forth during trading on Thursday, as the ECB held firm, but had a less than compelling statement afterwards. | | | |
The US dollar exploded to the upside during the trading session against the Mexican peso, validating the uptrend line underneath, and perhaps even more importantly, the 20 pesos level. | | | |
The US dollar rallied a bit during the trading session on Thursday, reaching towards the ¥113.75 level. | | | |
The S&P 500 initially tried to rally during the trading session on Thursday, but as we have seen more than once, we have given up the gains to roll over later in the day. | | | |
The WTI Crude Oil market initially dipped during the trading session on Thursday but then turned around to show signs of life again. | | | |
Gold prices ended Thursday's session down $3.75 an ounce as traders started to focus on the Federal Reserve's December 18-19 monetary policy meeting. | | | |
During the Friday trading session in Asia, the US Dollar moved higher against major peers as market focus shifts to next week's expected Fed rate hike. | | | |
There's been a few political / central bank events over the past day which directly affect major currencies, yet none of them produced any surprise and consequently there was little volatility. | | | |
The Pound Sterling edged higher during Thursday trade in London after the Prime Minister managed to eke out a win after the Parliamentary no-confidence vote on Wednesday. | | | |
Many observers think that it was an act of pure indulgence for a group of 48 Tory MPs to trigger a vote of confidence in Theresa May with the Brexit process at a critical phase. | | | |
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